Russian central bank confirms block on foreign bids to sell Russian securities

Re:Russian central bank confirms block on foreign bids to se... by unclebucknasty on Monday February 28, 2022 @08:33AM (#30499605)

This. Sure, in the micro, maybe crypto helps Russian citizens protect assets during a difficult period, but so can gold. And, in the macro, these fiat levers are much more punitive to the regime and the elites that support it.

Not to mention crypto can help the wealthy targets skirt sanctions.

On balance, given that we are dealing with a war of aggression and loss of life, I'm grateful for these tools. And, even to the extent it causes some pain for the Russian people, that further erodes support for the regime's unjust campaign and turns up the heat on them.

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Re:Russian central bank confirms block on foreign bids to se... by kordlessagain on Monday February 28, 2022 @08:54AM (#30499800)

I just read that Russia is the 5th largest gold holder in the world.

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Re:Russian central bank confirms block on foreign bids to se... by dgellow on Monday February 28, 2022 @10:14AM (#30500667)

Yes, they spent the past ~10 years preparing for Western sanctions by buying gold and foreign currencies. They were warned by western countries before 2014 and took the time to adjust their strategy.

IMHO the most interesting change they did is to become self-sufficient regarding their food production, and even net exporter of wheat, corn, and other cereals. They correctly identified that was a risk and made necessary changes to reduce it to the point where they can leverage their position against other actors.

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